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Stock market update March 26, 2020

Stock market today

Stocks today rally despite the fact of a very negative number for weekly US jobless claims. “U.S. jobless claims skyrocket to 3.283 million.

The COVID-19 pandemic is wreaking havoc on the U.S. economy, and data released Thursday morning reflected the severe damage being done to the labor market.

The number of Americans filing for unemployment benefits skyrocketed to a record-breaking 3.283 million for the week ended March 21. Consensus expectations were for 1.64 million claims. The previous record was 695,000 claims filed the week ended October 2, 1982. Initial jobless claims for the week ended March 14 was revised higher to 282,000 from 281,000 and was the largest single-week increase since the Great Recession.”

Source: https://finance.yahoo.com/news/coronavirus-weekly-initial-unemployment-claims-march-21-153036254.html

Stock market news live

At 12:6 PM, Thursday, March 26, 2020, Eastern Time (ET) all major stock indexes are up more than 4%. Dow today is up more than 1,100 points.

S&P 500: 2,595.52,+119.96(+4.85%)
Dow 30:,22,332.74,+1,132.19(+5.34%)
Nasdaq: 7,671.30,+287.00(+3.89%)
Russell 2000: 1,163.30,+52.93(+4.77%)

Stock market data: Yahoo Finance

Has the stock market discounted the negative figures about the weekly US jobless claims? It is a possibility or another short squeeze for stocks may be underway.

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